Rail specialist Amber Travel has a new majority investor valuing the company at more than £50million.
Private equity firm ECI Partners LLP has become the company’s major shareholder, coinciding with Primary Capital – who invested in Amber in 2005 – leaving the business.
With a turnover of £67million, York-based Amber Travel, which was established in 1980, boasts Great Rail Journeys as one of its brands.
Amber anticipates growth of over 20% in 2013.
The company operates through three brands: Great Rail Journeys, Treyn (focusing on standard class mid-market hotels) and RailSelect.com (catering for the independent traveller and tailormade travel).
Chris Watt, head of ECI’s Consumer team, who will sit on Amber’s board, brings a wealth of experience in the sector.
He has served as non-executive director for previous ECI travel portfolio companies, including Hoseseasons and Kirker. He currently serves on CarTrawler’s board.
Amber Travel executive chairman Nick Cust said: "As a management team we are very excited about partnering with ECI, an organisation with a long and positive track record of past and current ownership of travel businesses.
"Since becoming Chairman in January 2011, I have been very impressed by the quality, value and appeal of our holidays. This is reflected in more and more travel agents selling our packages – an area showing 35% growth this year – and ECI’s ownership will see us redoubling our efforts with the retail trade."
